In the second quarter of 2021, one office building, Tiriac Tower, with a total leasable area of 16,500sqm, was completed in Bucharest, while two other projects are also very close to completion: Globalworth Square and Politehnica Business Tower.
Occupier focus
In Q2 2021, in Bucharest, was rented a total area of 80,400sqm of modern office spaces, out of which 40% was represented by the renewal of lease contracts in the current premises and 60% net take-up (newly contracted offices and expansions in the existing ones).
The most sought-after area was the Central-North one, with 57% of the companies’ preferences for renting new spaces.
The most active tenants were companies in the Medical & Pharma and Professional Services sectors, with 25% and 24% of the net take-up, respectively.
2023 OVERVIEW 2023 brought deliveries of 130,700 sqm to the office market, which represented a 22% increase compared to the previous year. At the same time, however, compared to the average deliveries in the last 5 years (228,000 sqm), 2023 recorded a decrease of 43%. ✓ 68% of the 2023 deliveries took place in the […]
In Q3 2023, the total volume of transactions on the Bucharest office market reached 165,480 sqm, close to the total for the first semester of the year. The most sought-after area in Q3 2023 was the Central-South one, which though only 5 transactions concentrated 37% of the volume of (Pre) Lease & Expansions The IT&C […]
In S1 2023, the total volume of transactions on the Bucharest office market reached 176,900 sqm. The most sought-after area in S1 2023 was the Central-North one, with 69% of the total (Pre)Lease & Expansions volume. The IT&C industry had clearly led the office market in S1 2023, with 35% of the newly leased areas. […]